Plywood and MDF-maker, Greenpanel Industries will invest Rs 600 crore towards expanding capacities at its existing unit in Andhra Pradesh. The unit which will deliver an additional 2,30,000 cubic mtrs. or 35 percent over its present capacity of 6,60,000 cubic mtrs. will be commissioned in the first half of FY25.

Around 60 percent of the capex is from the company's internal resources, and 40 percent will be through debt.

The machinery and other requirements of the plant has already been placed for order for the expansion. Greenpanel currently has two MDF units, one of which is in Uttarakhand with an annual capacity of 2,16,000 cubic mtrs. and another in Andhra Pradesh with 4,44,000 cubic mtrs. capacity.

Meanwhile, Greenpanel is also looking to tap into the export markets, for MDF, in West Asia and South East Asia to achieve double digit growth.